Choreo LLC Purchases New Stake in Serve Robotics Inc. (NASDAQ:SERV)

Choreo LLC bought a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,977 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SERV. Larson Financial Group LLC acquired a new stake in Serve Robotics during the third quarter worth $26,000. Blue Trust Inc. acquired a new stake in Serve Robotics during the fourth quarter worth $27,000. Bfsg LLC acquired a new stake in Serve Robotics during the third quarter worth $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics during the third quarter worth $68,000. Finally, Quantum Private Wealth LLC acquired a new stake in Serve Robotics during the third quarter worth $80,000.

Serve Robotics Stock Performance

Shares of SERV stock opened at $13.85 on Friday. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.35. The stock’s 50-day moving average price is $16.52 and its 200 day moving average price is $12.00.

Insider Activity at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the transaction, the chief executive officer now owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Buckly Jordan sold 64,408 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total value of $551,976.56. Following the transaction, the director now owns 449,052 shares in the company, valued at $3,848,375.64. The trade was a 12.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 253,027 shares of company stock worth $3,309,166 in the last quarter. Company insiders own 21.40% of the company’s stock.

Analyst Ratings Changes

SERV has been the subject of several recent analyst reports. Northland Securities raised their target price on Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. LADENBURG THALM/SH SH started coverage on Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price target for the company. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Serve Robotics has a consensus rating of “Strong Buy” and an average price target of $19.50.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.